“Venture capitalists are putting founders through everything short of a proctology exam before they invest,” said Venky Ganesan, a partner at a Silicon Valley venture capital firm, telling The New York Times about how difficult it is for startups to get money now that their backers actually ask them questions about what they do.
Since conducting this kind of harsh due diligence is what I spend a lot of time doing for my clients, I’m of two minds on this. On the one hand, when VCs and investors start bringing in people like me it means that the boom is over, which means bad times ahead for the economy.
On the other hand: ka-ching!
which means bad times ahead for the economy.
Or that the economy has stabilized to the point where VCs and investors don’t feel pressured to make unsafe bets just to stay competitive...
No, I mean just that. The American economy now surfs from one hype-inflated bubble to another. The “sharing/gig economy” boom that was going to make us all micro-entrepreneurs is petering out as it runs up against real-world limitations, so investors now have to ask the questions they should have been asking all along.
You’re the boss, boss.
The meat packing district is about to have a serious set-back in nerds getting funded and laid.
Ah, for the halcyon days when you could get a rich white dude to give you $30m because you had an idea for a “thing” that did “stuff.”
Sure, it’s a thing that does stuff — but it does it in the cloud.
Or the days five years from now after the next tech/vc crash craters sinks the economy, we save it, it goes into recovery, and all the same maggots reattach themselves again and do the exact same fucking thing over again. With nobody in government or business caring one iota. God this is a fucking great country.
But does it promote synergy and respond to paradigm shifts in the global market, thus allowing for the increased control of one’s brand and content?
If you think that was sweet, imagine the days when the rich white dude didn’t have an email address of his own. Offering him one in your magical domain as part of the package was good for an extra million.
Welp, the golden age of start-ups is dead. Back to making cheap As-Seen-On-TV knick knacks.
Right....instead of 4,000 fremium “messaging” apps for millenial douchebags.
My local mall has a store dedicated to “As Seen on TV!” crap.
It's only over for 3-5 years. Memories run short. This is my second dotcom bust I'm not that old.
I guess that’s true, I was only 9 or 10 during the dotcom bust so I was far more preoccupied with trying to sneakily watch The Simpsons.
Somebody has to ask the hard questions
It certainly is....
*wiping tears away* this has me laughing unchecked like the FB Live Chewie mask Mom...aAAAAAh. “AND IT’S WORTH IT TO ME!”
